How AI is Reshaping the World and What This Means for the Global Workforce
Artificial Intelligence (AI) profoundly impacts our lives in terms of how we function and interact with others. Many of the latest technology trends are centred around AI, and it’s not difficult to see why.
AI offers businesses across various industries efficiency and productivity by automating operations and providing data-driven insights and recommendations.
Research commissioned by IBM on AI adoption in daily business operations found that 35% of companies have been using the technology in their businesses. But some questions remain—what is AI’s impact in today’s world, and what does this mean for the global workforce? We’ll answer those questions in today’s article.
1. It has created an entire sector in the tech industry
AI has created an entire sector in the tech industry, and the home of multinational tech companies is at the forefront of this movement. In particular, Silicon Valley is a hub filled with AI superpowers, headquartering a vast range of AI-focused companies, from big-name players like NVIDIA to entry-level startups such as DataVisor.
Because AI technology has the potential to empower many industries, many financial institutions and investors, such as Goldman Sachs and Wells Fargo, have placed money into AI-related investments.
As computer scientist and businessman Dr. Kai-Fu Lee argues, AI will dramatically impact not just blue-collar jobs but also white-collar jobs like those headquartered in Silicon Valley. Although this does not necessarily mean job displacement within the tech industry, it can mean redesigning jobs around creativity and human intuition that complement machine learning.
2. It increases human collaboration and productivity
University of Oxford economics fellow Daniel Susskind has expressed concern over the replacement of humans with automated machines in the workplace. In a feature by Time, Susskind quipped that “machines don’t fall ill, they don’t need to isolate to protect peers, they don’t need to take time off work”.
However, other experts believe otherwise. A report by Harvard Business Review found that collaborative intelligence between humans and machines results in the most significant performance gains across businesses.
While AI can radically transform companies’ operations, its larger impact lies in augmenting human capabilities instead of replacing them. Hyundai, for instance, has designed intelligent and context-aware “cobots”, wearable robotic devices that allow industrial workers to work safely in factories through the use of sensors, motors, and actuators. These devices apply artificial intelligence in a way that augments a human worker’s dexterity and natural judgment, ultimately increasing the productivity of a company’s workforce.
3. It helps companies make data-driven decisions
Artificial intelligence is changing the way companies make decisions. AI agents like Microsoft’s Cortana, a business-focused virtual assistant, are streamlined strategic planning or decision-making processes.
Before, combing through data manually limits the potential to discover trends and reveal insights; now, AI can even predict behaviours and respond to specific actions.
The Guardian explains that modern AI utilises deep learning to allow learning by itself. For instance, British firm Deepmind was able to play millions of training chess matches against itself and eventually emerged as its own top competitor.
This kind of technology requires the expertise of humans because machine learning still needs to be taught how to perform the work they’re designed to do. Only with proper training and engagement of skilled employees can companies maximise the potential of machine learning in business intelligence and data analytics.
AI systems have quickly evolved over the last few decades; they can now perform tasks that were once thought impossible for machines. The global workforce can bring this technology to greater heights with proper collaboration and training.
Article written by Roanna Jules exclusively for Pigro.ai